The 8 gigawatt solar power contract that Adani Green Energy won from the government in June has propelled it to become the world’s largest solar developer by capacity.
According to a ranking by the renewable energy consultancy Mercom Capital Group, Adani Green is currently the world’s leading solar developer with 2.3 GW of operational projects, 2 GW under construction and 8 GW of awarded projects (with contracted PPAs) for total capacity of 12.3 GW. . Hong Kong-based GCL New Energy is the world’s second largest solar developer with 7.1 GW, followed by SB Energy, Enel Green Power, Brookfield Renewable, First Solar, AES Corporation, Invenergy, Lightsource bp and ENGIE.
In June, Adani Green Energy Ltd was awarded a solar manufacturing contract from Solar Energy Corporation of India (SECI) to develop 8 GW of projects. The transaction is valued at ₹45,000 crore, or $ 6 billion.
Under the awarded agreement, the 8 GW of solar projects will be implemented over the next five years. The first 2 GW of generation capacity will come online in 2022 and the subsequent 6 GW capacity will be added in annual increments of 2 GW by 2025.
By operating capacity in solar energy at the utility scale, the main developer was GCL New Energy with 7.1 GW, followed by Enel Green Power with 4.2 GW. Adani is ranked eighth globally on this list. However, Adani has the largest capacity awarded and under construction worldwide, with a 10 GW pipeline.
Adani Green is the only Indian developer in the top 10 globally. The company has operational solar projects in Tamil Nadu, Rajasthan and Karnataka, in addition to 65 megawatts in Rugby Run, Australia.
In a press release, Gautam Adani, Chairman of the Adani Group, said: “Achieving this ranking is a direct result of our commitment to creating the infrastructure necessary for a clean energy future. While we are pleased to be ranked as the world’s largest solar player, we recognize that we still have a long way to go as the world turns into an increasingly decarbonized energy landscape. We anticipate that over the next decade, several existing business models will be impacted as a result of disruption caused by the intersection of the falling cost of renewable energy and the ability of technology to realign industries. “
He added: “We hope that our renewable energy platform will create new possibilities for our core business and we will be able to address some of the most intractable problems humanity has ever faced, including affordable decentralized energy, the availability of distributed clean water, green hydrogen as an alternative fuel, and micro agriculture, among others ”.
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